NasdaqGS:SBCF

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Seacoast Banking Corporation of Florida

Executive Summary

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to retail and commercial customers in Florida. More Details


Snowflake Analysis

Flawless balance sheet with questionable track record.


Similar Companies

Share Price & News

How has Seacoast Banking Corporation of Florida's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: SBCF is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 5% a week.

Volatility Over Time: SBCF's weekly volatility (5%) has been stable over the past year.


Market Performance


7 Day Return

6.0%

SBCF

4.5%

US Banks

-0.4%

US Market


1 Year Return

53.1%

SBCF

35.4%

US Banks

36.3%

US Market

Return vs Industry: SBCF exceeded the US Banks industry which returned 27.7% over the past year.

Return vs Market: SBCF exceeded the US Market which returned 31.2% over the past year.


Shareholder returns

SBCFIndustryMarket
7 Day6.0%4.5%-0.4%
30 Day18.1%15.2%-1.3%
90 Day39.1%25.4%4.9%
1 Year53.1%53.1%40.3%35.4%39.2%36.3%
3 Year34.3%34.3%13.1%3.4%48.7%39.2%
5 Year146.4%146.4%100.7%75.2%117.0%92.8%

Long-Term Price Volatility Vs. Market

How volatile is Seacoast Banking Corporation of Florida's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Seacoast Banking Corporation of Florida undervalued compared to its fair value and its price relative to the market?

26.23x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: SBCF ($38.12) is trading above our estimate of fair value ($36.35)

Significantly Below Fair Value: SBCF is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: SBCF is poor value based on its PE Ratio (26.2x) compared to the US Banks industry average (12.8x).

PE vs Market: SBCF is poor value based on its PE Ratio (26.2x) compared to the US market (21x).


Price to Earnings Growth Ratio

PEG Ratio: SBCF is poor value based on its PEG Ratio (1.9x)


Price to Book Ratio

PB vs Industry: SBCF is overvalued based on its PB Ratio (1.8x) compared to the US Banks industry average (1.1x).


Next Steps

Future Growth

How is Seacoast Banking Corporation of Florida forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

13.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: SBCF's forecast earnings growth (13.8% per year) is above the savings rate (2%).

Earnings vs Market: SBCF's earnings (13.8% per year) are forecast to grow slower than the US market (19.5% per year).

High Growth Earnings: SBCF's earnings are forecast to grow, but not significantly.

Revenue vs Market: SBCF's revenue (7.7% per year) is forecast to grow slower than the US market (10.1% per year).

High Growth Revenue: SBCF's revenue (7.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: SBCF's Return on Equity is forecast to be low in 3 years time (8.5%).


Next Steps

Past Performance

How has Seacoast Banking Corporation of Florida performed over the past 5 years?

27.3%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: SBCF has high quality earnings.

Growing Profit Margin: SBCF's current net profit margins (27.2%) are lower than last year (34.2%).


Past Earnings Growth Analysis

Earnings Trend: SBCF's earnings have grown significantly by 27.3% per year over the past 5 years.

Accelerating Growth: SBCF's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: SBCF had negative earnings growth (-21.1%) over the past year, making it difficult to compare to the Banks industry average (0.5%).


Return on Equity

High ROE: SBCF's Return on Equity (6.9%) is considered low.


Next Steps

Financial Health

How is Seacoast Banking Corporation of Florida's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: SBCF's Assets to Equity ratio (7.4x) is low.

Allowance for Bad Loans: SBCF has a sufficient allowance for bad loans (257%).

Low Risk Liabilities: 96% of SBCF's liabilities are made up of primarily low risk sources of funding.

Loan Level: SBCF has an appropriate level of Loans to Assets ratio (68%).

Low Risk Deposits: SBCF's Loans to Deposits ratio (81%) is appropriate.

Level of Bad Loans: SBCF has an appropriate level of bad loans (0.6%).


Next Steps

Dividend

What is Seacoast Banking Corporation of Florida current dividend yield, its reliability and sustainability?


Dividend Yield vs Market

Notable Dividend: Unable to evaluate SBCF's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate SBCF's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if SBCF's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if SBCF's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: SBCF is not paying a notable dividend for the US market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of SBCF's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

4.2yrs

Average management tenure


CEO

Chuck Shaffer (46 yo)

0.17

Tenure

US$844,729

Compensation

Mr. Charles M. Shaffer, also known as Chuck, has been Chief Executive Officer at Seacoast Banking Corporation of Florida since January 01, 2021 and its Director since December 2020. Mr. Shaffer served as P...


CEO Compensation Analysis

Compensation vs Market: Chuck's total compensation ($USD844.73K) is below average for companies of similar size in the US market ($USD3.64M).

Compensation vs Earnings: Chuck's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Dennis Hudson
Executive Chairman15.67yrsUS$1.33m0.50%
$ 10.5m
Charles Shaffer
CEO & Director0.17yrUS$844.73k0.11%
$ 2.4m
David Houdeshell
Executive VP and Director of Credit Analytics & Policy0.58yrUS$486.85k0.083%
$ 1.7m
Charles Cross
Executive VP & South Florida Market President7.67yrsUS$603.28k0.11%
$ 2.3m
Juliette Kleffel
Chief Banking Officer6.42yrsUS$611.32k0.039%
$ 806.1k
Tracey Dexter
Executive VP & CFO0.75yrno data0.013%
$ 281.5k
Jeffrey Bray
Executive VP of Service & Ops4.5yrsno datano data
Jennifer Reissman
Executive VPno datano datano data
Daniel Chappell
Chief HR Officer & Executive VP4.58yrsno datano data
Jeffery Lee
Chief Digital Officer1.83yrsno datano data
Michael Sonego
Executive VP & Residential Lending Executive4.5yrsno datano data
Joseph Forlenza
Chief Risk Officer4.17yrsno data0.011%
$ 220.3k

4.2yrs

Average Tenure

60yo

Average Age

Experienced Management: SBCF's management team is considered experienced (4.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Dennis Hudson
Executive Chairman15.67yrsUS$1.33m0.50%
$ 10.5m
Charles Shaffer
CEO & Director0.17yrUS$844.73k0.11%
$ 2.4m
Christopher Fogal
Independent Lead Directorno dataUS$150.02k0.037%
$ 782.9k
Thomas Rossin
Independent Director17.17yrsUS$125.02k0.00013%
$ 2.7k
Julie Daum
Independent Director7.42yrsUS$100.02k0.050%
$ 1.0m
Hugh Culbreth
Independent Director12.25yrsUS$100.02k0.10%
$ 2.2m
Matthew Lindenbaum
Board Observer4.92yrsno datano data
Maryann Goebel
Independent Director7.08yrsUS$125.02k0.011%
$ 228.6k
Jacqueline Bradley
Independent Director5.83yrsUS$125.02k0.013%
$ 266.9k
Dennis Arczynski
Independent Director7.5yrsUS$143.77k0.027%
$ 563.4k
Alvaro Monserrat
Independent Director3.83yrsUS$100.02k0.0055%
$ 114.3k
Robert Lipstein
Independent Director1.83yrsUS$85.95k0.023%
$ 473.6k

7.1yrs

Average Tenure

65yo

Average Age

Experienced Board: SBCF's board of directors are considered experienced (7.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: SBCF insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 6.9%.


Top Shareholders

Company Information

Seacoast Banking Corporation of Florida's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Seacoast Banking Corporation of Florida
  • Ticker: SBCF
  • Exchange: NasdaqGS
  • Founded: 1926
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$2.090b
  • Shares outstanding: 54.82m
  • Website: https://www.seacoastbanking.com

Number of Employees


Location

  • Seacoast Banking Corporation of Florida
  • 815 Colorado Avenue
  • Stuart
  • Florida
  • 34994
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
SBCFNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDFeb 1984

Biography

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to retail and commercial customers in Florida. The company offers co...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/06 23:42
End of Day Share Price2021/03/05 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.